Former Bank of China Deputy Governor Critiques Bitcoin Pegs
Wang Yongli, former deputy governor of the Bank of China, argues that pegging national fiat currencies to Bitcoin (BTC) or other digital assets misunderstands economic history.
He asserts that the shift to fiat currency was a necessary progression, and that pegging to fixed assets like gold or BTC creates inflexibility, preventing central banks from adjusting money supply to match economic growth. Wang believes Bitcoin's capped supply, while a hedge against inflation, makes it unsuitable as a foundation for a sovereign currency, viewing such proposals as a regression in monetary logic.


Cryptovka
Bank of China’s Former Deputy Governor Critiques Bitcoin Pegs
The evolution of monetary systems remains a central point of contention between traditional finance and the emerging digital asset sector....


















